Consumers can expect a big time oil price hike of as much as P2.70 per liter next week in the wake of the volatility of prices in the world oil market.
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, said signs of easing US – China trade tensions will boost demand; and the UK, US and EU sanctions on Russia rallied global oil prices.
She said kerosene may also increase up to P1.75 per liter, excluding the cost of doing business by the oil companies.
Jetti Petroleum president Leo Bellas said the price movement indication for the week of Nov. 03, 2025 is based on this week’s Mean of Platts Singapore (MOPS), the benchmark pricing for oil importers and foreign exchange average for the first four days versus last week’s full week average.
He said diesel may increase from P2.50 to P2.70 per liter and gasoline from P1.50 to P1.70 per liter as oil prices continued its rally as the sanctions on Russian oil producers Rosneft and Lukoil, which together account for more than 5 percent of global oil output, have introduced significant compliance risks and uncertainty into the market.
“Growing concerns that refined products output will tighten globally due to the US sanctions on key Russian producers have resulted in strengthening diesel and gasoline prices outside of crude movements,” Bellas said.
On Oct. 28, the oil firms also increased pump prices by P2 per liter for diesel, P1.70 per liter for kerosene and P1.20 per liter for gasoline.
